Loan Programs

The Plainfield Fund

The Plainfield Fund is a loan fund dedicated to strengthening the Plainfield, NJ small business community. The loan has a variety of uses including purchasing new equipment, increasing inventory and hiring workers.

 

Loan Eligibility:

To be eligible, a business must be:

  • For profit
  • Registered in the United States
  • Owned by a permanent resident or citizen of the United States

 

Loan Terms:

  • Loan amounts range from $25,000-$250,000
  • Variable terms, 5-10 years
  • Application fees range from $500 to $1500
  • Interest rates ranging from 6% -8%

In addition, there are loans up to $5.5 million available to support capital projects (including the purchase and/or renovation of real estate and equipment) through the SBA 504 Loan Program.

How to Apply:

Please submit your application through the City of Plainfield by contacting Jeannette Aparicio: (908) 226-2513 or Jeannette.aparicio@plainfieldnj.gov.

Assistance is available to help applicants complete their applications and submit required documentation.

 

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